BidaskClub downgraded shares of CyrusOne (NASDAQ:CONE) from a strong-buy rating to a buy rating in a research note published on Thursday morning, BidAskClub reports.
Other equities analysts have also issued reports about the stock. Deutsche Bank raised shares of CyrusOne from a hold rating to a buy rating and set a $63.39 price objective on the stock in a research report on Friday, May 17th. Zacks Investment Research raised shares of CyrusOne from a hold rating to a buy rating and set a $81.00 price objective on the stock in a research report on Wednesday. BMO Capital Markets reissued a buy rating and issued a $66.00 price objective on shares of CyrusOne in a research report on Monday, August 5th. Bank of America set a $80.00 price objective on shares of CyrusOne and gave the company a buy rating in a research report on Friday, August 16th. Finally, ValuEngine raised shares of CyrusOne from a hold rating to a buy rating in a research report on Friday, August 30th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $67.11.
Shares of CONE opened at $73.65 on Thursday. The firm has a market capitalization of $8.40 billion, a PE ratio of 22.01, a PEG ratio of 1.39 and a beta of 0.55. The company’s 50-day moving average is $67.26 and its 200-day moving average is $59.63. CyrusOne has a fifty-two week low of $48.94 and a fifty-two week high of $75.48. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.58 and a quick ratio of 1.58.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.09. The company had revenue of $251.50 million for the quarter, compared to analyst estimates of $238.01 million. CyrusOne had a negative net margin of 7.44% and a negative return on equity of 2.45%. The company’s revenue was up 27.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 earnings per share. Analysts predict that CyrusOne will post 3.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.72%. This is a positive change from CyrusOne’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, September 26th. CyrusOne’s dividend payout ratio (DPR) is currently 55.59%.
Large investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. increased its position in CyrusOne by 190.8% during the second quarter. Cullen Frost Bankers Inc. now owns 538 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 353 shares during the period. Tortoise Index Solutions LLC bought a new position in CyrusOne during the first quarter worth about $40,000. Nvwm LLC increased its position in CyrusOne by 69.6% during the first quarter. Nvwm LLC now owns 916 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 376 shares during the period. Icon Wealth Partners LLC bought a new position in CyrusOne during the first quarter worth about $60,000. Finally, Pearl River Capital LLC bought a new position in CyrusOne during the second quarter worth about $94,000.
CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 212 Fortune 1000 companies.
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